this post was submitted on 30 Oct 2024
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Handling cash is expensive and difficult for shops, so it might make sense to not require shops to accept cash.
I guess certain crimes also become harder.
Not sure I support it, but I see that there are points to it.
More expensive than credit card & POS machine fees? I think probably not.
I was quite surprised when I first had to handle large amounts of cash. Securely transporting it to and from a bank is quite a hassle, and making sure you always have enough change is as well. Idk about the specific economics of it, but it's easy to underestimate for those of us who don't have to deal with it at scale.
Had a lot of robberies of cash transports in Sweden earlier. Haven't heard of one in the last 20 years or so.